Vietnam Manufacturing PMI2012-2020 Data | 2021-2022 Forecast | Calendar

The IHS Markit Vietnam Manufacturing PMI jumped to 42.7 in May 2020 from a record low of 32.7 a month earlier, amid the success Vietnam has had in bringing the COVID-19 outbreak under control. Output, new orders, and employment all decreased at rates unseen prior to the current crisis, while there were particular reports of difficulties in securing new export orders. Manufacturers also continued to scale back their purchasing activity and inventories of both purchases and finished goods, though in each case to lesser extents than in April. Meanwhile, vendor delivery time lengthened markedly. Regarding prices, input costs fell for the second straight month, particularly due to lower oil prices; and selling prices were also cut to attract new business. Finally, confidence was still the second-lowest since available records began in April 2012 amid concerns that the impacts of the pandemic will linger.

The IHS Markit Vietnam Manufacturing PMI plummeted to a record low of 32.7 in April 2020 from 41.9 in the prior month, amid strong negative effects of the coronavirus pandemic. Record falls were seen in output, new orders, employment, and purchasing amid company shutdowns and the cancellation of orders. Meanwhile, difficulties obtaining imported goods, material shortages, and issues travelling meant that suppliers' delivery times lengthened the most on record. Prices data showed input prices dropped for the first time in 16 months, and at a marked pace that was the fastest since September 2015, attributed to a lack of demand for inputs and lower oil prices. Meantime, output prices fell for the third month running, with the reduction being the steepest in the survey's history. Lastly, business sentiment turned negative for the first time since the survey began nine years ago, amid fears that the impact of the pandemic could last for a prolonged period.

The IHS Markit Vietnam Manufacturing PMI fell sharply to 41.9 in March 2020 from 49.0 in a month earlier. The latest reading pointed to the steepest contraction on the record in the sector, amid strong negative effects of the coronavirus pandemic. Output, new orders and employment all dropped at record paces. Firms also scaled back purchasing activity and inventory holdings, while severe disruption to supply chains was reported. Delays from Chinese vendors were mentioned in particular. Prices data showed input cost rose the least in four months, while output prices decreased sharply, and to the greatest extent since July 2012. Looking ahead, sentiment dropped to the lowest since this series began in April 2012.

The IHS Markit Vietnam Manufacturing PMI fell to 49.9 in February 2020 from 51.8 in January. This was the first drop in the manufacturing activity in over four years, as the sector was severely affected by the COVID-19 outbreak. Output fell at the fastest pace for over 6-1/2 years, while new orders shrank for the first time since November 2015, which was partially driven by a fall in export sales. Some survey respondents mentioned weaker order flows from China when explaining the fall in international business. Also, employment shrank for the first time in four months and was the fastest for over 6-1/2 years. Buying activity, in addition, dropped for the first time in over four years. On the cost front, shortages of necessary inputs led to a rise in cost burden. The rate of inflation was softer than that registering in January, however. Meanwhile, selling prices fell fir the first time in three months and modest. Lastly, confidence weakened to the lowest in series history.